New Fortress Energy (NASDAQ:NFE) Trading Down 11.2% – What’s Next?

New Fortress Energy Inc. (NASDAQ:NFE)’s stock price fell 11.2% on Thursday . The stock traded as low as $7.84 and last traded at $7.81. 1,835,923 shares were traded during trading, a decline of 53% from the average session volume of 3,893,842 shares. The stock had previously closed at $8.80.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Stifel Nicolaus cut their price target on shares of New Fortress Energy from $23.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Morgan Stanley cut their price target on shares of New Fortress Energy from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft raised shares of New Fortress Energy from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, New Fortress Energy currently has a consensus rating of “Hold” and an average price target of $15.60.

New Fortress Energy Stock Performance

The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.35 and a current ratio of 0.38. The firm’s 50 day simple moving average is $12.73 and its 200-day simple moving average is $11.42. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 10.18 and a beta of 1.58.

New Fortress Energy (NASDAQ:NFE) last announced its earnings results on Monday, March 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.07. New Fortress Energy had a net margin of 7.84% and a return on equity of 15.60%. The company had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $613.24 million. On average, sell-side analysts predict that New Fortress Energy Inc. will post 0.36 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Christopher S. Guinta purchased 5,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $8.57 per share, with a total value of $42,850.00. Following the transaction, the chief financial officer now owns 206,653 shares in the company, valued at $1,771,016.21. The trade was a 2.48 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 37.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NFE. KBC Group NV boosted its position in shares of New Fortress Energy by 116.9% during the 3rd quarter. KBC Group NV now owns 3,436 shares of the company’s stock valued at $31,000 after acquiring an additional 1,852 shares during the last quarter. US Bancorp DE boosted its position in shares of New Fortress Energy by 344.6% during the 3rd quarter. US Bancorp DE now owns 3,570 shares of the company’s stock valued at $32,000 after acquiring an additional 2,767 shares during the last quarter. Allworth Financial LP boosted its position in shares of New Fortress Energy by 2,156.0% during the 4th quarter. Allworth Financial LP now owns 2,053 shares of the company’s stock valued at $32,000 after acquiring an additional 1,962 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of New Fortress Energy by 148.5% during the 4th quarter. GAMMA Investing LLC now owns 3,966 shares of the company’s stock valued at $60,000 after acquiring an additional 2,370 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of New Fortress Energy during the 4th quarter valued at about $64,000. Institutional investors and hedge funds own 58.61% of the company’s stock.

New Fortress Energy Company Profile

New Fortress Energy Inc operates as an integrated gas-to-power energy infrastructure company that provides energy and development services to end-users worldwide. The company operates in two segments, Terminals and Infrastructure, and Ships. The Terminals and Infrastructure segment engages in the natural gas procurement and liquefaction; and shipping, logistics, facilities and conversion, or development of natural gas-fired power generation.